This article is from the Australian Property Journal archive
DEXUS has confirmed it is in due diligence to acquire the 80 Collins Street commercial complex in Melbourne’s east end from QIC, in a deal that is shaping up to exceed $1.3 billion.
With the backing of a major offshore party, Dexus is believed to have outlasted major rivals Mirvac and Charter Hall in the race for 80 Collins Street, which includes an existing 52-storey officer tower that is flanked by a 43,000 sqm office building of 39 storeys and a 300-room hotel and retail complex, both of which are under construction.
The new office tower will become the new headquarters of Macquarie, while law firm DLA Piper recently signed up for to 4,500 sqm and McKinsey 2,700 sqm, taking pre-commitments to more than 50%. Ashurst is believed to be close to taking around 4,500 sqm.
“While Dexus does not usually comment on media reports, given the nature of the articles it confirms that it is in the early stages of exclusive due diligence to acquire 80 Collins Street, Melbourne alongside capital partners,” Dexus said yesterday in statement to the ASX.
The group paid $230 million last year for adjoining sites at 60 and 52 Collins Street, across Exhibition Street, on which it will build a 35,000 sqm prime-grade office development with an end value of as much as $650 million.
Australian Property Journal
